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Forex For You Today
British Pound at Clear Risk as Positions Stretched and Gains Slowing
The British Pound was the only major currency to strengthen against the US Dollar in a holiday-shortened week of trading, but can it continue higher? The high-flying Sterling will need support from the Bank of England to hold near multi-year peaks in the week ahead.
Gold Carves Lower High in April- Bearish Below $1327
Gold is off sharply this week with the precious metal shedding 1.7% to trade at $1298 heading into the weekend.
Bullish USD/JPY Outlook at Risk as Japanese Inflation Picks Up
A further pickup in market sentiment should continue to fuel the near-term rally in the USD/JPY, but the fundamental developments coming out next week may keep the dollar-yen contained within the wedge/triangle formation as the Bank of Japan (BoJ) remains upbeat on the economy.
Forex Weekly Trading Forecasts: A Return of Liquidity Likely to Revive Volatility, Trend Development
The holiday liquidity drain this week has not only curbed volatility, it has distorted trends - leading to a rebound in 'risk' and dollar. So, what happens when the markets are topped off again?
New Zealand Dollar: Lots of Room to Disappoint in RBNZ
The market seems pretty certain that the New Zealand central bank will usher in the strongest wave of monetary policy – and thereby carry increase – of the majors.
Dollar Pushed to the Edge with Risk and Yields Raising the Stakes
Though its progress was restrained by the same liquidity drain that reined in risk trends, the dollar managed a broad recovery this past week.
Australian Dollar Facing Conflicting Domestic, External Catalysts
The Australian Dollar will face conflicting catalysts as domestic economic data and external developments drive volatility in the relative monetary policy outlook.
GBP/USD Outlook Favors Buying Dips Ahead of Hawkish BoE Minutes
The Dow Jones-FXCM U.S. Dollar Index remains capped by 10,470, while the GBP/USD outlook remains bullish going into the Bank of England (BoE) Minutes.
Key Risks to EUR, NZD, GBPAUD Scalp Setups
A recap of this week’s highlighted setups and updated targets heading into next week.
Forex: Market Activity Set for Pickup on Heavy Event Risk Next Week
A busy economic calendar is likely to fuel a pickup in financial market action next week after markets emerge from the Easter holiday lull in activity.
Euro Ready for a Short-term Breakout, Trend Revival When Liquidity Returns
Activity levels for EURUSD are extraordinary. Regardless of how we measure the trading conditions behind the market’s most liquid currency pair, we are left with an assessment that reveals extremes…
AUD/USD Holds 0.9330 Support For Now- Waiting for Bearish RSI Trigger
The Dow Jones-FXCM U.S. Dollar Index may continue to consolidate, while the AUD/USD risks further losses as the RSI threatens the bullish trend.
EUR/AUD Bottom Developing as EUR/JPY Holds 139.90-143.75 Range
We're headed into a long holiday weekend in Europe and North America, leaving market participants needing more liquidity for sustainable trend shifts. These are the EUR-crosses we're watching into next week.
Crude Oil Retreats, Gold and Silver Exposed To Ebbing Ukrainian Concerns
The precious metals may take their next leg lower if tensions in Eastern Europe fail to bolster safe-haven demand for the commodities.
USD/CAD Risks Larger Pullback on Faster Canada Headline & Core CPI
The USD/CAD may face a larger pullback ahead of the holiday weekend as a rebound in Canada CPI limits the BoC’s scope to further embark on its easing cycle.
Euro: Should We Worry About Demands for More Currency Intervention?
Verbal threats against the euro seem to grow by the day.
USD/CNH: Chinese Yuan Depreciation to Blame on Gold Selloff?
The USD/CNH rate hit highs on Monday not seen since 2012.
Forex: Seasonal Forces May Overshadow German PPI, US Claims Data
Pre-holiday profit-taking may dominate financial market price action on Thursday, overshadowing the impact of German PPI and US Jobless Claims data.
USD/CAD & GBP/CAD Clear Resistance Ahead of Canada CPI
The Dow Jones-FXCM U.S. Dollar Index remains capped by 10,470, while the USD/CAD & GBP/CAD look poised for a further advance.
AUD/USD, GBP/USD Still Ripe with Potential After UK Jobs, Chinese GDP
The GBPUSD achieved a retest of its yearly high as planned, but the real question is now whether or not a breakout towards 1.7000 is in the cards.
Gold and Silver Plunge, Crude Oil Vulnerable Ahead Of Inventories Data
Gold and silver may extend their declines on the back of a stronger US dollar, while crude oil faces a suspenseful session ahead with inventories data on tap.
Pound to Look Past Jobless Claims Data, Dollar Eyes Fed Beige Book
The British Pound is unlikely to find direction cues in UK Jobless Claims data. The US Dollar may rise if an upbeat Fed Beige Book bolsters QE “taper” continuity bets.
Chinese Yuan: A Better 1Q GDP Outcome for Reassurance or Stimulus Motivation?
An important round of Chinese data came out better-than-expected overall…slightly.
Scalping the GBPAUD Recovery- 1.8050 Key Resistance
A breach above the weekly opening range has shifted our near-term bias higher heading into the close of the week. Here are the updated levels & invalidation points.
NZD/USD to Eye 0.8750 Ahead of RBNZ on Faster New Zealand Inflation
A pickup in New Zealand’s Consumer Price Index (CPI) may spur fresh highs in the NZD/USD as it boosts interest rate expectations.
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